It may be a little bit too late to say which movie is my favourite in 2007, since it is already 2008, but I think it is going to be the Diving bell and the Butterfly directed by Julian Schnabel. It is based on the memoirs of a French journalist Jean-Dominique Bauby who became paralyzed and was able to move only one eye-lid. In the face of his tragedy, he managed to convey the story of his remarkable life and turn it into an extraordinary book.
I have not seen the movie yet, but I know the story inside out seeing that I finished reading the book for the third time a few days ago. It is a touching and moving story and I am sure to revisit it.